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 <li>The US SEC just requested exchanges to update their filings on ETH ETF approval.</li>
 <li>This means the possibility of an early ETH ETF approval just shot up by 75%.</li>
 <li>The price of ETH saw massive surge following amidst bullish speculation.</li>
</ul>
<p>The crypto market is in a frenzy not only because of the Bitcoin (BTC) reentering price recovery phase, but also over the chance of an early ETH ETF approval. This expectation comes from a move made by the SEC.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> BIG BREAKING <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>U.S. SEC HAVE ASKED EXCHANGES <br>TO UPDATE 19B-4 FILINGS ON AN <br>ACCELERATED BASIS FOR SPOT <br>ETHER ETFS: COINDESK<br><br>MANY ARE PREDICTING ETH SPOT <br>ETF APPROVAL ODDS TO 75%. <br><br>THIS IS GIGA BULLISH <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"></p>— Ash Crypto (@Ashcryptoreal) <a href="https://twitter.com/Ashcryptoreal/status/1792656938293178563?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 20, 2024</a>
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<p>In detail, the US SEC has asked exchanges to update their 19B-2 filings on an accelerated basis for Spot ETH ETFs. This has led to an increased expectation for an early approval for Spot Ether ETFs.</p>
<p>In fact, the expectations for an early approval <a href="https://x.com/WatcherGuru/status/1792638248566579665" target="_blank" rel="noopener noreferrer nofollow">shot up from 25% to 75%</a>. The request from the US SEC has instead added to the bullish fuel that has captivated the crypto market today. Many long-term crypto traders are predicting highly bullish market movements soon including new ATHs for Bitcoin.&nbsp;</p>
<p>While Bitcoin’s rally has the crypto community believing in the inevitable start to the golden bull run phase, others say the approval of the Spot ETH ETF will signal the official <a href="https://cryptonewsland.com/ethereum-holds-strong-above-3100-amid-etf-decision-anticipation/" target="_blank" rel="noopener noreferrer nofollow">bullish start for altseason</a>.&nbsp;</p>
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   <p lang="en" dir="ltr">An ETF approval is a HUGE catalyst. <br><br>One that many didn't expect until 2025 – but it may be coming early.<br><br>It's exactly what the market needs to start leg 2.0 of the bull run.. <a href="https://t.co/KNoJwCtYgm" rel="noopener noreferrer nofollow">pic.twitter.com/KNoJwCtYgm</a></p>— Miles Deutscher (@milesdeutscher) <a href="https://twitter.com/milesdeutscher/status/1792740235773985242?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 21, 2024</a>
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<p>One trader marks how ETH ETF approval was only expected in 2025 but now, the approval may come early. If it does, he says it could launch up into the next phase of the ongoing bull cycle. Thus, the ETH ETF approval would be a <a href="https://cryptonewsland.com/ethereum-dominates-76-of-crypto-tvl-impact-on-eth-price/" target="_blank" rel="noopener noreferrer nofollow">huge catalyst for ETH price</a> and the greater crypto sphere.</p>
<p>Upon the arrival of the true <a href="https://x.com/0xFinish/status/1792698974115422238" target="_blank" rel="noopener noreferrer nofollow">altseason</a> fueled by the approval of the Spot ETH ETFs, the crypto space will likely see altcoins go parabolic. This means explosive news ATHs could expected not just for Bitcoin (BTC) and Ether (ETH), but for all other altcoins as well.</p>
<p>Presently, the price of Ethereum’s native cryptocurrency Ether (ETH) is at $3,673 according to <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>. The asset is up by 18% in the last 24 hours and shot up by just over $3,000. It seems the asset is following Bitcoin’s impressive rally and is also heading into new ATH territory.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/blackrock-urges-urgent-approval-of-bitcoin/" rel="noopener noreferrer nofollow">BlackRock Urges Urgent Approval of Bitcoin Spot ETF from SEC</a></li>
 <li><a href="https://cryptonewsland.com/crypto-community-on-edge-secs-ether-probe-sparks-uncertainty-for-etfs/" rel="noopener noreferrer nofollow">Crypto Community On Edge: SEC’s Ether Probe Sparks Uncertainty for ETFs</a></li>
 <li><a href="https://cryptonewsland.com/do-kwon-opposes-secs-impossible-request-due-to-montenegro-detention/" rel="noopener noreferrer nofollow">Do Kwon Opposes SEC’s Impossible Request Due to Montenegro Detention</a></li>
 <li><a href="https://cryptonewsland.com/grayscale-files-amendment-for-spot-bitcoin-etf-approval-at-eleventh-hour/" rel="noopener noreferrer nofollow">Grayscale Files Amendment for Spot Bitcoin ETF Approval at Eleventh Hour</a></li>
 <li><a href="https://cryptonewsland.com/xrp-army-recognises-gary-genslers-last-shot-at-revenge/" rel="noopener noreferrer nofollow">XRP Army Recognises Gary Gensler’s Last Shot at Revenge</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/bullish-early-eth-etf-approval-fuels-eth-price-rally-following-us-secs-request-for-exchanges-to-update-filings/" rel="noopener noreferrer nofollow">Bullish Early ETH ETF Approval Fuels ETH Price Rally Following US SEC’s Request for Exchanges to Update Filings</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Bullish Early ETH ETF Approval Fuels ETH Price Rally Following US SEC’s Request for Exchanges to Update Filings

Crypto News Land

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